Introduction

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A Dictionary of Economics provides comprehensive definitions of over 2,500 economic terms. It covers all aspects of economic theory--from microeconomics to public finance and international trade, organizations, and institutions. Clear and jargon-free definitions provide an indispensable source of reference for students of economics and related fields, as well as for anyone who comes into contact with the vocabulary of economics. Up-to-date entries on topics such as e-commerce and the Euro have been added. Mathematical and statistical terms widely used in economics, as well as words from related areas such as business and finance, are widely covered.

This two-volume reference comprises 92 chapters contributed by an
international roster of authors and is intended for undergraduate
students and serious general readers who need access to summaries of
theories and models--in preparation for tests or as starting points for
research--as well as for professional economists and others seeking
information about new approaches and topics. The aim is to present
accurate, succinct, balanced coverage of a wide range of basic and new
topics. Arrangement is in sections on various dimensions of the field
such as scope and methodology, micro- and macro-, public, and
international. In a section on analysis of issues and markets, topics
include aging, race, sports, justice, transportation, gambling, HIV and
AIDS, migration, health, sexual orientation, microfinance, and cultural
heritage, among others. Emerging areas of study addressed in the final
set of chapters include, for example, ethics, feminist economics,
neuroeconomics, and evolutionary economics. Each chapter reviews theory,
considers applications, develops models, and explores empirical
evidence

F.A. Hayek (1899-1992) was among the most important economists and
political philosophers of the twentieth century. He is widely regarded
as the principal intellectual force behind the triumph of global
capitalism, an 'anti-Marx' who did more than any other recent thinker to
elucidate the theoretical foundations of the free market economy. His
account of the role played by market prices in transmitting economic
knowledge constituted a devastating critique of the socialist ideal of
central economic planning, and his famous book The Road to Serfdom was a
prophetic statement of the dangers which socialism posed to a free and
open society. He also made significant contributions to fields as
diverse as the philosophy of law, the theory of complex systems, and
cognitive science. The essays in this volume, by an international team
of contributors, provide a critical introduction to all aspects of
Hayek's thought.